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Old 09-21-2008, 05:49 PM   #51
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Originally Posted by 13F20 View Post
Dude I am in the military and I had Geico while driving a 2007 Nissan 350Z and was paying $536.00 every 6 mo. Plus I am 29 yrs old. That is 91.00 every month full coverage. I don’t know who you spoke to at Geico. But for them to charge double the USAA price, your driving record might have some issues.
my driving record is near perfect (1 speeding ticket, which was after I was already insured w/ them)

i had Geico back in California and it was the cheapest i could find, but for some reason their avg prices are lot more expensive out here (florida)
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Old 09-21-2008, 06:02 PM   #52
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I just did a quote with Progressive with full cov. on an 08 Rustang... one at fault accident and one not at fault... 1100/year, and I am 23 year old male.
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Old 09-21-2008, 07:53 PM   #53
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my driving record is near perfect (1 speeding ticket, which was after I was already insured w/ them)

i had Geico back in California and it was the cheapest i could find, but for some reason their avg prices are lot more expensive out here (florida)
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I just did a quote with Progressive with full cov. on an 08 Rustang... one at fault accident and one not at fault... 1100/year, and I am 23 year old male.
Chewy: Florida is the problem. I live in Ga. FL will always have higher inshurance rates for cars like that.

okernan6.2: dude how did you pull $91.67 per month? also I thought insurance companies only did 6mo policies, not one year policies. Not hating on you just a little confused here. Normally under 25 year old males have higher insurance rates that 25 and older. Now you are 23 yrs old and requesting full coverage on a 2008 mustang. Getting that rate at $91.67 per month. I am 29 years old and had full coverage on a 2007 Nissan 350Z paying $91.00 per month coming to $516.00 for 6 mo. Now how does that happen? Insurance rates get cheaper the older you get not higher.
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Old 09-21-2008, 09:14 PM   #54
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also I thought insurance companies only did 6mo policies, not one year policies. Not hating on you just a little confused here.
I believe the majority of Insurance Companies have switched to 6 month policies (now they can raise your insurace twice a year instead of once).

There are a few that still do yearly.

Mine does yearly policies, takes 10% off when you renew, as well as pays a small Dividend at the end of every year (somewhere around $50-$100 usually).

I have NJ Manufactures. It's a state owned/run insurance that is only available to A- State Employees and B- Employees of a non-state company that has an account with NJM. My mother isn't a state employee, but her employer has an account so she also has NJM.

Anyone that lives in NJ should check with their employer to find out if they are eligible. No other company, in NJ, is going to beat their rates if you have a good driving record.

Their rules are slightly more strict when first joining them. You must have had your license for at least 3 years. As well as anyone else living in your home. If you've had ANY tickets in the last 3 years they will not insure you.

After you are covered by them a ticket isn't as big a deal. I got a speeding ticket a few years ago and it never had any impact. Only if you get a certain # of points will they refuse to keep insuring you.
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Old 09-21-2008, 09:28 PM   #55
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Making Insuance Companies Fair!!!!

Alright people we have got to something about the insurance companies ripping us off. First of all men shouldn't pay more just because they're men, and i'm not saying that women should pay more than men either. I've got nothing against women or their driving but I seriously believe that men and women should be equal when it comes to insurance rates. Its true that in the past that there were more men than women that got into accidents, speeding tickets, both speeding and accidents, but that was the past. Folks I live in Arizona and you know what they have in Arizona...... a shit load of camera's everywhere. Now I'm not sure about other states arizona actually has cameras on the freeway. Now before it was just a certain area on the freeway, but now as they're expanding it by putting in a carpool lane they're putting cameras everywhere on the 101. Combine those cameras on the freeway and all the ones on streets and that equals a huge shit load of just speeding tickets. Now you're probably thinking why I'm even mentioning this and I'm about to explain it soon. With all these speeding tickets, the people are gonna have to pay for them and all that money pretty much goes to the state government. Now like I said before, this is all just from speeding tickets from cameras. Now we add the speeding tickets from getting pulled over (there's also tickets from drinking or from doing drugs but you shouldn't even be doing those things while you're driving anyway so i'm not counting those) and the tickets from accidents and what we get is an enormous amount of tickets which is an enormous amount of money for the state. Now here's my point. Chances are that other states are going to see what Arizona's doing they'll want to do the same and get some money out of it as well (probably not for a couple of years but they'll do it eventually). So in the end everyone's insurance rates are going to go up big time, and if the insurance companies don't make things fair its the men that are going to suffer the consequences only.
Insurance companies may think that men are more reckless drivers than women but they're not. They're the same (at least they are now).

WE NEED TO DO SOMETHING ABOUT THE UNFAIR TREATMENT MEN ARE GETTING FROM THE INSURANCE COMPANIES BEFORE ITS TOO LATE AND IT GETS WORSE BEYOND BELIEF!!!!!

Now i'll admit mentioning the whole situation in arizona and its cameras may have been a little dumb but i was trying to give an example of what could possibly happen and how men will be suffering. Please tell me of what you all think. Do you believe that men should pay equally as women, or do you think that it should stay the same as it is right now with women paying a lot less then men? And If men should pay the same as women, what do you think people should do to change that?
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Old 09-21-2008, 10:19 PM   #56
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Once upon a time when I was about 18-21ish the cheapest insurance I could get, $325 a month, liability only!!! That was through progressive. I had 1 speeding ticket, 1 careless driving (for burning out :P), and 1 street racing on the highway, at that time. Needless to say, I dont do any of those anymore. I got tired of giving my money away to the state, and the insurance companies...

Fast forward to current time. I'm 23 years old, male, single, currently have a clean driving record. I pay $800 a year for my 04 GTO, 100k/300k coverag, $500 deductables. $177 a year for liability 100k/300k on my daily driver 82 Datsun Maxima. I'm using Wawanesa for my insurance company. Typically, what any other insurance place quotes me for 6 months, I pay that price for a FULL YEAR with Wawanesa. I was quoted between $800-900 for 6 months at other places for the GTO... I dont think insurance will be too bad for me on the new Camaro.
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Old 09-21-2008, 10:26 PM   #57
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Originally Posted by 2MA View Post
Alright people we have got to something about the insurance companies ripping us off. First of all men shouldn't pay more just because they're men, and i'm not saying that women should pay more than men either. I've got nothing against women or their driving but I seriously believe that men and women should be equal when it comes to insurance rates. Its true that in the past that there were more men than women that got into accidents, speeding tickets, both speeding and accidents, but that was the past. Folks I live in Arizona and you know what they have in Arizona...... a shit load of camera's everywhere. Now I'm not sure about other states arizona actually has cameras on the freeway. Now before it was just a certain area on the freeway, but now as they're expanding it by putting in a carpool lane they're putting cameras everywhere on the 101. Combine those cameras on the freeway and all the ones on streets and that equals a huge shit load of just speeding tickets. Now you're probably thinking why I'm even mentioning this and I'm about to explain it soon. With all these speeding tickets, the people are gonna have to pay for them and all that money pretty much goes to the state government. Now like I said before, this is all just from speeding tickets from cameras. Now we add the speeding tickets from getting pulled over (there's also tickets from drinking or from doing drugs but you shouldn't even be doing those things while you're driving anyway so i'm not counting those) and the tickets from accidents and what we get is an enormous amount of tickets which is an enormous amount of money for the state. Now here's my point. Chances are that other states are going to see what Arizona's doing they'll want to do the same and get some money out of it as well (probably not for a couple of years but they'll do it eventually). So in the end everyone's insurance rates are going to go up big time, and if the insurance companies don't make things fair its the men that are going to suffer the consequences only.
Insurance companies may think that men are more reckless drivers than women but they're not. They're the same (at least they are now).

WE NEED TO DO SOMETHING ABOUT THE UNFAIR TREATMENT MEN ARE GETTING FROM THE INSURANCE COMPANIES BEFORE ITS TOO LATE AND IT GETS WORSE BEYOND BELIEF!!!!!

Now i'll admit mentioning the whole situation in arizona and its cameras may have been a little dumb but i was trying to give an example of what could possibly happen and how men will be suffering. Please tell me of what you all think. Do you believe that men should pay equally as women, or do you think that it should stay the same as it is right now with women paying a lot less then men? And If men should pay the same as women, what do you think people should do to change that?
basically what he means by this is stop mens suffrage! hahah i had to say something it reminded me of a skit on The Man Show.
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Old 09-21-2008, 10:28 PM   #58
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Chewy: Florida is the problem. I live in Ga. FL will always have higher inshurance rates for cars like that.

okernan6.2: dude how did you pull $91.67 per month? also I thought insurance companies only did 6mo policies, not one year policies. Not hating on you just a little confused here. Normally under 25 year old males have higher insurance rates that 25 and older. Now you are 23 yrs old and requesting full coverage on a 2008 mustang. Getting that rate at $91.67 per month. I am 29 years old and had full coverage on a 2007 Nissan 350Z paying $91.00 per month coming to $516.00 for 6 mo. Now how does that happen? Insurance rates get cheaper the older you get not higher.
My bad 1100/6 mo., meant to type 6 mo., but but year in by accident! But I still think that 1100/6 mo isnt bad for a young guy like myself. I did 09 Challenger and it was like 1500/6 mo. I hope they have Camaro up soon. All of these quotes came from Progressive. I have heard State Farm and Farmers have pretty good rates as well.
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Old 09-22-2008, 01:03 AM   #59
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FYI: you can't really compare rates because location makes a big difference. I just raised my insurance almost $300/yr (fot two drivers & cars) by moving 10 miles. I've heard that credit scores count to.
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Old 09-30-2008, 06:06 PM   #60
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im 20 and live in nj. My full coverage is 180 month for an 08 altima coupe 3.5. Im on my parents policy w usaa.
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Old 10-02-2008, 01:11 AM   #61
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Hi all, I have lurked here for a while and After seeing this thread and the misinformation everywhere (through no fault of your own, insurance is a confusing business and you have to work for a company in the business to truly understand it), I felt compelled to join and shed some light on this subject.

Firstly let me say I have had a deposit down for MSRP on a 2010 Camaro SS since June. I just sold my 2000 Vette to make the down payment in February (or whenever lol).

Secondly, let me qualify my knowledge. I formerly worked for one of the top 5 largest auto insurers in the country, I was a licensed agent in over 30 states, I've worked in both sales and underwriting of policies as well as research into risk factors, actuarial work, and so forth. Needless to say, I know what I am talking about.

A few things:

- The Corvette is NOT a Luxury car, its not rated as a luxury car, I don't know who told anyone that but its WRONG. The Corvette is a Sports car and rated as such, and not only that, would likely be rated higher than any Camaro (even a brand new one) regardless of horsepower due to cost to repair. I've owned a Corvette, the tax sucks.

- Trying to guess what anyone elses insurance is, is pissing in the wind. Every insurance company uses different factors (obviously all use the same basic age, driving history, location, etc). Some weight those higher, some lower, some use other factors as well. Every company can use anywhere from 10-50 different factors that you would never even expect but they have enormous amounts of data to back up, and weight them at many different levels. Not only that but each state has requirements of how they use those factors as well (thats what all the back up data is for, states require the factors to be proven accurate beyond a reasonable doubt). Each company has sophisticated computer programs now used to rate policies. NOBODY can just do it off the top of their head or guesstimate. I manually rated a policy once, it took me over 2 hours, it sucked. ASIDE from the fact that who knows what the other person's policy limits are as well which can have a huge effect..

- To 2MA. Speed camera tickets (or any camera tickets for that matter) are not listed on your license. Reason being is anyone can be driving the car, not necessarily the owner and there is no way to prove the registered owner was the driver when the photo was taken. Those tickets are simply fines, and are NOT counted by your insurance company (unless you are dumb enough to tell them about it). PS there is mountains of data proving who is a better or worse driver, that said the male/female factor is not as large as one might think in my experience (and yes I was licensed in Arizona too).

- The 6 month policy works to your benefit. Why you ask? Insurance companies are only allowed to surcharge (add a specific charge to your policy; say $50 or $100) for 3 years from the date of a violation or accident (in some states less), as of the date the policy begins. That means if you have a 1 year policy that starts in January and your accident or ticket becomes over 3 years old in March, you will pay that surcharge until the policy renews in January again. However if your policy is only 6 months they must remove that surcharge in July when it renews.

Now to those concerned about what their new Camaro will cost to insure, some tips:

- Don't get tickets, easier said than done haha! But don't just volunteer information to your insurance company, they are going to run your license anyway, you would be surprised what records mysteriously don't show up. Plus some rate longer than your license history saves. (example, NY keeps moving violations and suspensions listed for 3 years, however most NY insurers ask for 5 years of driving history). PS Seatbelt tickets are moving violations, I don't care what the cop tells you, hes just telling you that so you dont complain. Aside from camera tickets and parking tickets, anything else you can get WILL show up.

- Good credit is important. Whether you like it or not, in any state its allowed insurance companies use this factor. And its NOT your regular credit score. It uses credit data to extrapolate an insurance risk score which is different than the credit score you would see if you got a loan or a mortgage. This should go without saying as I'm sure you all don't want to pay 20% interest on your Camaro. Pay off your credit cards and don't carry a balance, pay payments on time. Things like that go a long way. Its a measure of responsibility, and its also proven to be the most accurate rating factor ever used by insurance companies.

- Shop around! I cannot stress this enough, remember earlier I said all insurance companies rate differently? Well some insurance companies factors work out better for some people than others. What have you got to lose? 5 more minutes? Call or go online with every company you can. And don't believe that BS from Progressive and esurance about giving you other companies quotes, they aren't accurate, go back to those companies and try them.

- Don't waste your time buying anti-theft devices like Lojak or more alarms for a discount, the discount is VERY minimal, buy them because you want your car back if the worst happens, otherwise don't bother.

- Putting your Camaro in your mom or girlfriend's name may help, until you have a claim or accident. In SOME states they can deny your claim due to misrepresentation, but usually they will pay anyway, and then drop you, or jack your rates up.

- If you are under 25, staying on your parents policy is a great idea, it will save you a bundle, HOWEVER if you do something stupid, its their responsibility.

If you stay clean your rates can be cheap even in an expensive place like NY where I live, I am 28 and have a clean record and the most impeccable credit you will ever see, I paid $75 per month for high liability limits, and $500 deductables on my 2000 Vette.

Good Luck!
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Old 10-02-2008, 01:49 AM   #62
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As posted above... It's too hard to even ballpark. I thought for sure when I added the latest car to the plan it would have been a bit of an increase, but it turned out working in my favor.

37 year old, married male with lots of prior (5 yrs or more) tickets. But as it stands, I pay 158 a month for full coverage on the 01 Z-71, and the 06 Evo (which could never be mistaken for any less than it is). Company is Progressive (no one else would insure me at the time I bought my truck except them). I have no doubt that the multi car discount helps also.
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Old 10-02-2008, 07:06 AM   #63
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Great post Rogue Leader! I know what's going to hurt me the most is living in NYC. I'll be 25 with no tickets *knock on wood*, and a great credit history. I know Geico takes into account your occupation, level of education, etc, so I hope little things like that can add up in my favor.

I really don't know what to expect as an insurance payment, but I'm just hoping that it doesn't cause me to have to drop to the V6...not that there's anything wrong with that!!!
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Old 10-02-2008, 07:09 AM   #64
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I'm 27 and had one accident... yeah $700 a month.... I really do not know why. but that was I got when I looked it up.... Maybe its the area, los angeles rates suck!
rates will also be high if you have bad credit.....and last time I checked...they don't ask if a car has a v8 or v6. They will probably be the same price.
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Old 10-02-2008, 07:47 AM   #65
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rates will also be high if you have bad credit.....and last time I checked...they don't ask if a car has a v8 or v6. They will probably be the same price.
They don't have to ask, the VIN tells the insurance company everything.
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Old 10-02-2008, 08:11 AM   #66
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With the car not even out it is hard to even speculate what the rates would be, but one way to do it is get a rate quote for a comperable mustang. that will put you in the ballpark.

I have no idea how they figure car insurance rates, I have 4 cars, the cheapest is my 82 El Camino... the most expensive is my 2005 Jeep Liberty.
I have the same coverage on all my vehicles.
in order of least to most expensive

1982 Chevy El Camino est Value $9,000
2007 Chevy HHR book Value $12,000
2008 Saturn Sky book Value $21,000
2005 Jeep Liberty book Value $12,000

from the cheapest to the most expensive there is about 80 dollars every 6 months.
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Old 10-02-2008, 09:44 PM   #67
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- If you are under 25, staying on your parents policy is a great idea, it will save you a bundle, HOWEVER if you do something stupid, its their responsibility.
That is the exact reason my parents told me before I ever even got my license that I would NOT be allowed on their policy. I would have to pay for my own if I wanted to drive...

And I understand and agree with their decision. I would do the same if I had kids.
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Old 10-03-2008, 12:34 AM   #68
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That is the exact reason my parents told me before I ever even got my license that I would NOT be allowed on their policy. I would have to pay for my own if I wanted to drive...

And I understand and agree with their decision. I would do the same if I had kids.
Oh I agree, the call I got from the guy trying to get a policy for himself with his son in the household who had things such as driving on the sidewalk, driving the wrong way in traffic, and vehicular manslaughter (I kid you not), and he couldn't get coverage for himself made that clear!
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Old 10-03-2008, 07:44 AM   #69
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That is the exact reason my parents told me before I ever even got my license that I would NOT be allowed on their policy. I would have to pay for my own if I wanted to drive...

And I understand and agree with their decision. I would do the same if I had kids.
It does not matter if you are on the same policy, if you are in the same household you are considered a driver of any car in that household, therefore if you child screws up several time (as mine did) you could be threatened with cancellation... I was... I got out of it becaues he was in the military and not really living at home, our address was just being used for his state of residence... So be sure before you get your own policy that you will be considered completely seperate from your parents....
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Old 10-03-2008, 07:40 PM   #70
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It does not matter if you are on the same policy, if you are in the same household you are considered a driver of any car in that household, therefore if you child screws up several time (as mine did) you could be threatened with cancellation... I was... I got out of it becaues he was in the military and not really living at home, our address was just being used for his state of residence... So be sure before you get your own policy that you will be considered completely seperate from your parents....
This may be true, but at least if I were in an accident they would not be suing my parents. That was their concern.

I can say from experience with MY insurance company that living with someone with a bad driving record will NOT affect my insurance in any way. My friend I live with was on my insurance originally (he bought a beat up car and we put it in my name) as a driver. When he got a few tickets and an accident I was informed by my insurance agency that he had to be removed from my policy and HAD to get his own insurance or I would be cancelled.

As long as he had his own insurance he could do whatever he wanted, it didn't affect mine in any way despite our living together.

He has since improved his driving and has his own policy with the same insurance company I do.
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Old 10-03-2008, 08:08 PM   #71
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It does not matter if you are on the same policy, if you are in the same household you are considered a driver of any car in that household, therefore if you child screws up several time (as mine did) you could be threatened with cancellation... I was... I got out of it becaues he was in the military and not really living at home, our address was just being used for his state of residence... So be sure before you get your own policy that you will be considered completely seperate from your parents....
To clarify this is true in a way. As a parent if you have a child in the household who has a license you are responsible for them with your insurance (whether your company knows or not, and once they find out they will add your child unless you can prove otherwise). If they drive your car you are responsible for them (then again if your friend drives your car you are also responsible). If they drive someone elses car the other person is responsible for them, however if they are in some sort of catastrophic accident your insurance can be called in as a secondary (ie they hit a school bus full of kids).

HOWEVER if your 18 or over yr old child gets their own insurance and they are driving anything but your vehicles you have no liability or responsibility for them. So my advice here is if you don't want your kid on your policy make him/her get a car and their own insurance.
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Old 10-04-2008, 12:10 AM   #72
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To clarify this is true in a way. As a parent if you have a child in the household who has a license you are responsible for them with your insurance (whether your company knows or not, and once they find out they will add your child unless you can prove otherwise). If they drive your car you are responsible for them (then again if your friend drives your car you are also responsible). If they drive someone elses car the other person is responsible for them, however if they are in some sort of catastrophic accident your insurance can be called in as a secondary (ie they hit a school bus full of kids).

HOWEVER if your 18 or over yr old child gets their own insurance and they are driving anything but your vehicles you have no liability or responsibility for them. So my advice here is if you don't want your kid on your policy make him/her get a car and their own insurance.

that is why my kids will not drive till they are 18 yrs old. No if, and's or but.
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Old 10-06-2008, 12:41 PM   #73
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I worked for Progressive as an adjuster for 6 years, so I'll give you some of my insight into pricing. Keep in mind, I was an adjuster- not an actuary so I'm just letting you know what to look for.

Progressive has several major and several minor factors that went into a rate. The biggest factors were: Age, Credit Rating, Zip Code, and type of Car then a "use type" factor is applied. That is not in any particular order, but I do know the Zip Code was a HUGE factor. Two adjacent zip codes could have as much as 30% difference. You had garaging issues to watch for where people would put down a Connecticut address but they actually lived in NYC.

They have conducted several studies that show the link between risky credit behavior and risky driving habits. The evidence on that is pretty compelling even if your personal driving record is pretty good.

This is an insurance 'soft-market' right now because there is so much competition and there haven't been too many major disasters so the reserves are piling up. It's a good time to price it out. Packaging is pretty heavily leveraged right now too- so if you do combine your home and your car it can be substantial.

As far as men's vs women's rates- that's just the way the Vegas Odds play out on your chances of costing all the other rate payers money. Insurance companies usually aim for a profit of 4cents on every dollar they collect as well. It was made clear that you weren't really spending Progressive's money- you were spreading risk among all the insureds. I'm not defending Progressive, but I'll tell you from the inside they didn't seem all that evil. I work for the State now though, so hate on them all you want.

As far as the Corvette goes, Progressive called them luxury if they met certain criteria (technically, I think they called them 'pleasure vehicles'). You had to have another vehicle available for each driver in your home and you had to drive them less than 8000 miles per year. Even Ferrari's weren't all that expensive to insure as long as you met the other criteria. Progressive's theory was that weekend warriors weren't that likely to get in a wreck. You can actually call several vehicles pleasure vehicles and a Camaro MAY qualify.

I drive a Gov't Car so I can qualify for pleasure vehicle rates for my Megacab Ram- I told them it was mainly to haul my trailer (which is true).
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Old 10-06-2008, 01:05 PM   #74
lakestar
 
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Camaro vs Corvette Insurance

For Camaros, in the past, I know State Farm would charge more for the insurance compared to a market value equivalent Corvette. ie a new Camaro against a 7 year old used vette. I asked them about it once, and they said that pecentage wise Camaros were involved in accidents much more than Corvettes. Also the average driver of Camaros was much younger and more risky than the average Corvette owner. So overall model statistics matter.

I wonder if they will use old Camaro statistics when figuring rates for the new Camaro?
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Old 10-06-2008, 01:36 PM   #75
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I have State Farm and I live next door to my agent. He told me that right now he thinks they will be charging roughly the same as a comparable 2009 Mustang.
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